Brief: OX2 Sells Stake In Offshore Wind Development Portfolio, Updates Guidance

OX2 AB (publ)

29/08/2022 06:51

Aug 29 (Reuters) - OX2 AB (publ)  OX2SE.ST :
    * OX2 SELLS STAKE IN 9,000 MW OFFSHORE WIND DEVELOPMENT PORTFOLIO TO INGKA INVESTMENTS AND
UPDATES
EARNINGS GUIDANCE FOR 2022
    * TRANSACTION IS EXPECTED TO IMPACT OPERATING INCOME POSITIVELY WITH 584 MSEK1 IN SECOND
HALF OF
2022
    * FOLLOWING COMPLETION OF TRANSACTION, OX2 EXPECTS OPERATING INCOME FOR FULL YEAR 2022 TO BE
SLIGHTLY ABOVE 1,000 MSEK
    * OX2 SELLS ITS FIRST OFFSHORE WIND PROJECTS TO INGKA INVESTMENTS, WHO ACQUIRES A 49 PERCENT
STAKE
IN THREE PROJECTS IN SWEDEN
    * OX2 WILL RECEIVE AN INITIAL PAYMENT OF 610 MSEK
    * FOLLOWING SUCCESSFUL PERMITTING OF PROJECT(S), AND IF BOTH PARTIES AT THAT POINT IN TIME
AGREE
TO CONTINUE DEVELOPMENT OF PROJECT(S), OX2 WILL RECEIVE A PRE-AGREED PRICE EQUIVALENT OF UP TO
100K EUR PER MW FOR 49 PERCENT OF PLANNED TOTAL CAPACITY

Source text: https://bit.ly/3pOYQd9
Further company coverage:  OX2SE.ST 

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